THE LONDON MARKETS.

New Zealand Herald, Volume LXIV, Issue 19780, 29 October 1927, Page 9

THE LONDON MARKETS.

BANK OF ENGLAND RETURNS. COMPARISON WITH LAST WEEK. (deceived October 28, 5.5 p.m.) A. and N.Z.-Sun. LONDON. Oct. 27. Tho Bank of England returns for the week ended October 27, as compared with those for the week ended October 20, are as follows: — Oct. 27. Oct. 20.

SHORT LOANS AND BILLS. Short loans, 3a per cent., same as last week; three months' bills, 4 5-16 per cent., same as last week. CONSOLS AND COLONIAL STOCKS. Tho following table gives quotations for consols and colonial inscribed stocks, compared with those of October 20:—

FOREIGN EXCHANGES. The following rates on foreign exchanges are current to-day, as compared with the cabled quotations on October 24 and par:

THE METAL MARKETS. (Quotations on October 24 in parentheses.) Copper.—Spot, £56 8s 4-|d); three months, £55 8s l£d (£55 14s 4^d). Lead.—Spot, £2O lis 3d (£2O 2s 6d): three months, £2O 17s 6d (£2O 10s). Spelter.—Spot, £25 lis 3d (£26 17s 6d); three months, £26 6s 3d (£26 lis 3d). Tin.—Spot, £264 16s 3d (£267 7s 6d); three months, £261 12s 6d (£263 17s 6d). Silver. —Standard, 25 13-16 d (25 13-16 d) per oz; fine, 27|d (27|d). WHEAT, FLOUR AND PULSE. Wheat.—Cargoes are steadier. Continental inquiry is mostly 3d higher. Parcels arc in moderate request at a similar advance. By the Somerset, 51s 6d. Liver- I pool futures, October, 10s l&d per cental; December, 10s 3^d; March, 10s 3|d; May, 10s 2Jd. Spot trade irregular. Australian, ex ship, to arrive. 545. Flour.—Quiet. Australian, ex store, 38s 6d to 39s 9d. Barley.—Quiet. Australian Chevalier, e\ r ship, 56s to 60s; Duckbill, 56s to 58s. Beans.—Quiet. Peas. —Firmer. Sugar.—Granulated, 29s 7^d. SHEEPSKIN SALES. At the London sheepskin sales to-day 4508 bales were offered, including from New Zealand. The selection was fairly good. There was a largo attendance and general competition, America buying a good share. Prices were: Fine crossbreds, par to 7£ per cent, above September rates, others par to 5 per cent, dearer. BRADFORD TOPS. The Bradford tops market is firm and there is good inquiry at slightly less than current rates. Sixty-fours, 51* d; sixties, 47d; fifty-sixes, 37a; fifties, 28d; fortysixes, 23d ; forties, 21£ d. ARGENTINE MEAT WAR. REPORTED TERMINATION. (Received October 28, 10.57 p.m.) A. and N.Z. LONDON, Oct. 28. The Financial Times says it is informed that an agreement has been reached which will end the Argentine meat war. It is hoped the companies will be on a profitearning basis by December. MELBOURNE PRODUCE. A. and N.2. MELBOURNE, Oct. 23. The following are to-day's quotations on the Melbourne produce market Wheat.—Quiet, Nominal, 5s to 5s lid. Flour.—£l3 10s to £l3 15s Bran. —£9 10s. Pollard.—£B ss. Oats. —Milling, 4s 9d to 4s lOd; feed, 4s Bd. Barley.—English, 4s 7d to 4s 9d. Cape, 4s 2d to 4s 3d. Potatoes. —£7 10s to £8 10s. Onions. —£2 10s CHICAGO WHEAT MARKET. A. and N.Z. CHICAGO, Oct. 27. Wheat.—December, 1 dollar 24| cents per bushel; March, 1 dollar 28£ cents; Slay, 1 dollar 30 3-8 cents. LONDON TALLOW PRICES. The New Zealand Loan and Mercantile Agency Company, Ltd., has received the following cablegram, dated Octobei 26, from its London house:—Tallow: We » quote present c.i.f. and e. values for the following descriptions of tallow Fine mutton, 38s per cwt.; good beef, 40s; mixed, 38s 6d.. The market is firmer. SOUTHERN EXCHANGES. (BY TELEGRAPH. —PRESS ASSOCIATION.! " WELLINGTON Friduy I'he tollowing sales took place on the Stock Exchange to-day: -Union Bank fractions, 9s, 9s 3d; Queensland Insurance, 55s yd, 565; Canterbury Frozen Meat. £7 16s fed CHKISTCHURCB b'ntiu. The following sales tool* place on the Stock Exchange to-day New Zealand Government Inscribe. Stock, 5£ per cent., 1933. £lOl 7s 6d. Bank of New Zealand. 58s (two); Commercial Bank of Aus traha, 28s lOd, Nationaj Bank of Aus tralasia (£5 paid cum div.), £8 14s; Union Bank (rights), 545, 535, 525, 51s 6d; Union Bank (fractions), 9s 6d, 93 3d (two); Dalgety and Company (new), £l3; Christchurch Gas, 23s 3d (two); Staples Brewery. 38s 6cl. DUNE DIN, Friday.

The following sales took place on the Stock Exchange to-day:—Union Bank fractions, 9s (three); Staples Brewery, 59«.

Note circulation . . £ 1(35,772,000 135,^9,000 Coin • • »• 151,810.000 151,214,000 Reserve ... . • 35.788,000 35,425,000 Govt, deposits 20.966,000 22.097.000 Other deposits 90,845.000 89,381,000 Govt, securities . . 40,689,000 47,550,000 Other securities .. 52.998,000 56,176.000 Proportion of reserve 32.00 29.10 to liabilities

Price. Variation £ b. d. s. d. Consols, 21 per cent. British 3J War Loan .. 55 7 6 5 0* 100 2 6 3 91 British 5 War Loan 100 5 0 52 6t Conversion Loan, 81 75 12 6 5 Ot Com'wealth, 51, 1922-27 .. 100 7 6 27 6+ Com'wealth, 6, 1931-41 .. 103 2 6 Same. Victorian, 3, 1929-49 72 10 0 5 Ot Victorian, 31, 1929-49 .. 77 ,7 6 2 6+ Victorian, 51, 1980-40 .. 100 10 0 fi 3* Victorian, 5, 1932-42 98 17 6 5 0* Victorian, 43, 1940-60 .95 15 0 5 0* N.S.W., 4. 1933 .. 94 5 0 2 6t N.S.W., 3. 1935 .. 76 5 0 1 3* N.S.W., 31, 1930-50 .. 85 7 6 Same. N.S.W.. 55, 1922-32 100 2 (> Same. N.S.W., 61, 1930-40 103 17 G Same. N.S.W., 6, 1930-40 101 5 0 Same. Queensland, 31. 1930 96 0 0 5 0+ Queensland, 8, 1922-47 .. 72 5 0 Sanae. Queensland, 6. 1930-40 .. 102 17 6 Same. New Zealand, 4, 192!) .. 97 12 6 2 6+ New Zealand,, 31. 1940 .. 87 12 6 5 Of New Zealand. 3, 1945 77 15 0 Same. New Zealand, 6, 1936-51 108 5 0 5 Of S. Australia, 31, 1939 .. 85 7 c 7 6t S. Aus,. 3. 1916, or after 62 10 0 Same. S. Australia. 61. 1930-40 103 12 6 2 6* iiismoma, 34, 1920-40 .. 84 17 6 10 ot Tasmania. 3 i9'?0-40 78 15 0 15 C+ Tasmania, 61, 1930-40 .. 105 0 0 10 Of W. Austialia, 31. 1929-35 W. Australia. 8, 1915-35 . 88 2 84 17 6 6 2 6» 12 G* W. Australia, 6, 1930-40 , 102 12 6 Same. ♦Higher. "Lower. J Ex. div.

Oct. 27. Oct. 21. Par. Brussels (belga) . . 34.98 84.99 5.045 Paris (fr.) », 124.05 124.05 25.225 Stockholm (kr.) .. 18.09 18.08 28 159 Oslo (kr.) 18.51 18.49 18.159 Copenhagen (kc) . 18.17 18.17 18.159 Berlin (r.m.) 20.40 20.40 20.43 Rome (lire) 89.12 89.10 25.225 Prague 1641 164 3-8 24.02 Calcutta (pence) . 17 31-32 17 31-32 24 Yokohama (pence) .22 15-16 22 31-32 241 Hongkong (pence) 24 1-1G 24 1-16 Montreal (dol.) . . 4.86 5-16 4.86 9-16 4.866 New York (dol.) . . 4.87 4.871 4.866 Amsterdam (fl.) , 12.09 12.10 5-8 12.10 Batavia (fl.) 12.10 12.10J 12.10